{"id":1342,"date":"2024-11-20T05:11:08","date_gmt":"2024-11-20T05:11:08","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-dominance-sliding-below-this-level-could-signal-start-of-altseason-trading-firm-says\/"},"modified":"2024-11-20T05:11:08","modified_gmt":"2024-11-20T05:11:08","slug":"bitcoin-dominance-sliding-below-this-level-could-signal-start-of-altseason-trading-firm-says","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-dominance-sliding-below-this-level-could-signal-start-of-altseason-trading-firm-says\/","title":{"rendered":"Bitcoin Dominance Sliding Below This Level Could Signal Start Of Altseason, Trading Firm Says"},"content":{"rendered":"

Bitcoin (BTC) continues its historic price trajectory, trading in the low $90,000 range at the time of writing. However, a trading firm suggests that Bitcoin dominance (BTC.D) falling below a crucial level could signal the start of the long-anticipated altcoin season.<\/p>\n

Interest Rate Cuts, Trump Administration To Propel Crypto<\/h2>\n

In a recent Telegram broadcast, Singapore-based trading firm QCP Capital shared<\/a> its crypto market analysis. The firm highlighted Solana\u2019s (SOL) recent performance, noting that it outpaced Bitcoin and Ethereum (ETH) over the weekend, surging more than 17% from Friday\u2019s lows.<\/p>\n

Despite this, QCP Capital acknowledged that many investors remain hesitant to embrace the prospect of an imminent alt season, given Bitcoin\u2019s steady climb toward the psychologically significant $100,000 mark. Rekt Capital\u2019s analysis supports this sentiment, suggesting BTC is just beginning its parabolic phase.<\/p>\n

QCP Capital, however, predicted that a combination of Donald Trump\u2019s victory in the US presidential election and interest rate cuts by the Federal Reserve (Fed) could set the stage for a full-blown altcoin season in the coming months.<\/p>\n

Trading Firm Identifies Key Bitcoin Dominance Threshold For Altseason<\/h2>\n

According to QCP Capital, altcoins historically outperform major cryptocurrencies once the latter consolidate after significant rallies. The firm explained:<\/p>\n

\n

Historically, we’ve seen altcoins outperform whenever the majors consolidate after a significant rally as profits rotate into smaller-cap coins. BTC’s dominance is around 60% now and it will probably need to be around <58% to signal the start of altcoin season.<\/p>\n<\/blockquote>\n

Currently, BTC.D stands at 60.10%. A look at the weekly chart shows that Bitcoin dominance has been on a steady uptrend since November 2022, when it hovered at 39.92%. Over this two-year period, most altcoins have underperformed Bitcoin significantly.\u00a0<\/p>\n

\"bitcoin<\/p>\n

However, altcoins have recently shown signs of recovery, coinciding with the growing likelihood of a pro-crypto Trump administration. Digital assets like SOL, Cardano (ADA), and XRP have significantly outperformed BTC in the past few weeks.<\/p>\n

QCP Capital\u2019s analysis aligns with that of crypto analyst @MikybullCrypto, who predicts BTC.D will decline starting in December. According to the analyst, altseason could begin toward the end of November and last until March 2025.\u00a0<\/p>\n

\"milkybull<\/p>\n

Some analysts believe Bitcoin may continue its rally before showing signs of weakness. For instance, Fundstrat\u2019s head of research, Tom Lee, recently stated that BTC is on track to reach $100,000 before the end of the year.<\/p>\n

That said, the altcoin market cap recently surged past a key resistance level, indicating that altcoin season might be closer than expected. At press time, BTC trades at $91,760, trading flat in the past 24 hours.<\/p>\n

\"bitcoin\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) continues its historic price trajectory, trading in the low $90,000 range at the time of writing. However, a trading firm suggests that Bitcoin dominance (BTC.D) falling below a crucial level could signal the start of the long-anticipated altcoin season. Interest Rate Cuts, Trump Administration To Propel Crypto In a recent Telegram broadcast, Singapore-based…<\/p>\n","protected":false},"author":1,"featured_media":1343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[245],"tags":[183,220,1009,605,65,606,111,73,607,71,185,254,419,174,121],"class_list":["post-1342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-ada","tag-altcoin","tag-altcoin-season","tag-altseason","tag-bitcoin","tag-bitcoin-dominance","tag-bitcoin-news","tag-btc","tag-btc-d","tag-btcusdt","tag-cardano","tag-cryptocurrency","tag-digital-currency","tag-sol","tag-solana"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1342"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1343"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}